CBC Group (“CBC”), Asia’s largest healthcare-dedicated asset management firm headquartered in Singapore, announced  that its controlled portfolio company, Hasten Biopharmaceutical (“Hasten”), an innovation-driven biopharmaceutical  company, has successfully acquired the asset rights of 14 branded products across Pan-Asia countries and regions from  Celltrion, a South Korean biopharmaceutical company. The successful acquisition draws upon CBC’s unique “investor operator” model which combines innovation, vast industry experience and commercial expertise, to support leading  healthcare companies such as Hasten as they source attractive assets and expand across borders.  

According to the agreement, Hasten will own the Marketing Authorization Holder (MAH) rights for these 14 products in  eight countries and regions, including South Korea*, Singapore, Thailand, Australia and China Hong Kong S.A.R. The  deal not only enriches Hasten's product pipeline and supply chain system but also marks its business expansion across Pan Asia region. As an innovative biopharmaceutical company focused on chronic diseases and critical care area, Hasten will  expand its product portfolios through this acquisition, with the commercial rights to drugs in various chronic diseases areas  such as hypertension and diabetes, including Edarbi®, Basen®, Actos®, Blopress®, and Nesina®. 

Fu Wei, CEO of CBC Group remarked, “This strategic deal lays a solid foundation for Hasten’s global expansion,  facilitated by CBC Group's deep experience in large-scale cross-border buyouts and platform building. Our distinct active  approach has seen a strong history of success as we work closely with healthcare companies to grow their platforms across  stages and accelerate their expansion internationally while retaining a sharp focus on unlocking synergies and joint value  for companies and investors alike. This milestone for Hasten underscores our commitment towards building a resilient  global health ecosystem, as we continue to deliver much-needed healthcare solutions across Pan-Asia and beyond.” 

Summer Xia, CEO of Hasten said, "This successful acquisition marks an important step as we expand our business  across Pan-Asia and progress towards our globalization trajectory. We are pleased to be partnering with CBC, as this deal  provides us the opportunity to expand our regional commercial platform, broaden our product portfolio with the coverage  of more classic products, while paving the way to go overseas with more high-quality products, in alignment with our  development strategy. Beyond CBC’s deep experience in buyouts and proven approach in growing leading healthcare  platforms, we share a similar vision of addressing unmet medical needs across communities globally by bringing to market  greater quality and affordable products. Going forward, we will continue to introduce innovative products, leverage our  commercialization capabilities and optimize our product portfolio while enhancing research and production capabilities.” 

This latest move follows a series of key growth developments for CBC and Hasten. In 2023, CBC co-led a US$315 million  fundraising round for Hasten, to support strategic acquisitions and business development of innovative pipeline assets. In  the same year, Hasten acquired the commercial rights in Mainland China for Rocephin®, a long-acting, broad spectrum  cephalosporin antibiotic, from Roche, delivering strong synergy within the portfolio and supporting the enhancement of  patient care and outcomes.